The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1887-01-15

we clip from the Banner OF TUESDAY
lie quotes from the reports Of the
comptroller and treasurer, and shows
tina: the receipts for two years ncIu
ding cash on hand December 20, 1884,
aggregated 1925, 1886. The dis
hursemeuts for the same time aggre-
gate SO, 29l, 300.98, an excess Of S64,
532 81 ever receipts. In order to
meet these expenditures, all overcheck
was made in bank for such extra sums
AS was needed over ordinary receipts.
The governor explains these eXlrarr-
binary expenses including such items
as the following Legislative expense,
extra session, S2O,67l.35; court Of
referees, Sl7,50S.25; East Tennessee
Hospital for the Insane, Sl05, O68.7i
Tennessee money and certificates can-
celed and expense Of same, 1898, 4lO.>
90; McMinuviIle aud Manchester
railroad, Sl0,3S6,95; code Of Zen
nessee, 500, OO9 and Mineral Home
railroad bonds redeemed, Sl5, 5l3.60,
all aggregatiug 1856, 569.l2.
The governor says there seems to be
no doubt That the present rate OF tax
alton will he sufficient 70 meet all nee
essary expenses, including the interest
on the debt and ii sinking fund for the
ultimate extiuguishmeut of the debt
He then gives review Of the leglsa-
ton concerning the bundled indebted
ness aud the funding of the deut He
shows that S22, 375, 400 Of Old bonds
have been retired, and S1l ,564, 800
of settlement bonds issued CbIs
leaves, according to the comptroller's
books, a balance Of S5,72S, 900, with,
out interest, Of the bonded Indebted,
ness vet to be accounted for. OF this
amount he estimates that there are
ST. 800, 900 in bonds not fundahle
educational bonds, ETC., leaving S4,
228, 900 outstanding liable to he
funded. Some of these bonds may
be lost or destroyed, and some are
held rack awaiting action of the court
in the case of Khnn VS.. the Funding
Board. There are also some detached
coupons, amounting to perhaps e4O, :
900, that are fundabe. The amount
Of interest funded iuto the principal
Of new bonds is 1921 ,557, without
estimating the large amounts Of in
terest absorbed into bonds under the
four preceding funding acts.
The governor states at length the
embarras,ments resulting from the
states relations with the old Bank ct
Tennessee, with "A history Of the legis,
lallon Oh the subject and the decision
Of the courts.
The message gives the corresponds
ence Of The governor concerning the
claims held 10y the United State,
against the state, which consist OF
tennessee ponds held tof the Indian
trust fund, $3l4, $685., aud Teunes-
see bonds owned ny The United States
, S2l 900, making total OF $685.
500 66, Amount due the slate iron
the United States, $40, 500 40.
The governor recommends the de
StrucIlou OF blank bonds aud pIa .es
He says he has been assured thai
$l5, 600 or Is 600 Memphis city bond,
endorsed 10y the state would soon he
retired. ale alludes to tue puhica,
ton Of the proposed prohibition
amendment, for cost of which appro
, prialion should be made. lie refers
p to the reports Of penlIentiary officers,
aud the Improvement in the prlsUl
management reported, and suggest,
again some provision for properly car
ing for youths in the penilentiary
tie calls attention To the decision CON
corning the good time act Of 1885
tie refers 10 the dispute over tht
:. North Carolina boundary, and trans
mlls the correspondence On the sub
jecl aud also to the Virginia bound
: AIRY Question, and suggests that thu
f discussion lie not reopened. He refer
to the efficiency Of the referee courts
aud their good record, MS shown b,
the large percentage of their decls-
e IONS Confirmed by The supreme court
= he calls attention to the report q
q the state superintendent of public in
3 strucliun, aud suggests encouragement
Ot the institute work, aud commend
the superintendent. lie then refers 1,
l the good work Of the state board q
education, Normal College and tn,
0 University of tennessee. He dwell
I at sumo length in his reference to Tn,
, Tennessee Hospital for the Insane
s ard the progress made in establishing
I hospitals in East and West Tennessee
: tie highly commeuds the School fol
r the Blmd aud the School for IN,
5 Deaf aud Dumb. He also admiret
e and cummends the bureau of agri
r culture, etc, aud its several depart
S menls, refers to the New Oriean,